Photo An Egyptian street vendor in Cairo on Friday. The country is struggling with soaring inflation and shortages of staple foods. Credit Amr Nabil/Associated Press CAIRO — The International Monetary Fund approved a $12 billion loan for Egypt on Friday, in a move intended to stave off economic collapse in the Arab world’s most populous nation as it grapples with a plunging currency, soaring inflation and shortages […]
GAZA: Days after the 12th anniversary of the death of Yasser Arafat, Palestinian leaders descended into new recriminations over who may have been involved in the demise of the former president.Coming two weeks before a meeting that is expected to overhaul the leadership of Fatah, the party of Arafat and President Mahmoud Abbas, the accusations underscore a growing animosity that threatens the movement’s stability.Speaking at a memorial […]
Friday 19:30 GMT. US and European stocks gave back some of their post-US election gains, the dollar continued to rally and commodity prices were in retreat as participants looked back over a truly remarkable week for global markets. A rapid flight to safety followed the shock news that Donald Trump would be the next president of the US, with S&P 500 futures and Asian stock market indices […]
The post-election rally that has reshaped global financial markets cooled off Friday, at the end of a week in which investors quickly adjusted to a president-elect who has promised to step up government spending and slash business regulation. The S&P 500 dipped 0.1 per cent on Friday in New York, while the Eurofirst 300 fell 0.6 per cent, paring back this week’s gains. The rapid change in […]
BEIRUT/MOSCOW/ANKARA: Backed by huge Russian support, the Syrian army captured the Dahiyet Assad district of western Aleppo on Saturday, reversing all the gains made by rebels two weeks into their counter-attack against government-held areas, a war monitor and rebel official said. In a related development, a flotilla of Russian warships is ready in the eastern Mediterranean off the Syrian coast after being sent to reinforce Russia’s military […]
NEW YORK: Iran’s repeated intervention in the internal affairs of Arab countries has come under severe criticism in a letter delivered to the UN General Assembly. In their letter to UN General Assembly President Peter Thomson, 11 countries, including Saudi Arabia, UAE, Bahrain, Egypt, Jordan, Kuwait, Morocco, Oman, Qatar, Sudan and Yemen, also condemned Iran’s sponsoring of terrorism in the region — particularly in Yemen — where […]
Even as global markets churned in the wake of Donald Trump’s stunning election win, the US Federal Reserve appeared to be sticking to its guns on monetary policy on Friday as one of its top officials laid the ground for a second increase in short-term interest rates. Stanley Fischer, vice-chair of the Federal Reserve Board, said in a speech that the case for gradually removing some more […]
Americans are heading to the polls today in droves after weathering endless campaign ads designed to influence their votes — especially in presidential battleground states such as Florida, North Carolina, Pennsylvania and Ohio. Here’s what you need to know about the advertising assault: Team Clinton aired three times more ads than Team Trump More than 500,000 broadcast and national cable TV ads have aired in the presidential […]
Democratic Governors Association spokesman Jared Leopold remained sanguine about the results. “Democrats also will likely hold all three of our incumbents: Governors Steve Bullock, Jay Inslee and Kate Brown,” he said. “Republicans initially eyed a 4-seat net gain in 2016, and it appears they will fall short.” Now, Democrats are looking ahead. Already struggling with a thin bench of political stars, Democrats said reversing their shrinking ranks […]
In most of the high-profile swing states, the story was the same. In Ohio, Team Clinton was responsible for about 75 percent of the 79,000 TV ads aired in the race since mid-June, after the primaries had ended. In North Carolina, Team Clinton was likewise responsible for about three-quarters of the 63,000 presidential race TV ads since mid-June. And in Pennsylvania, Team Clinton was responsible for nearly […]
Mass resignations follow any transfer of presidential power across party lines, but Trump’s ascension to power — built in part on his “Drain the Swamp” campaign slogan — seems certain to provoke an exodus by those who have attached themselves to the Obama administration’s big foreign policy goals. Among them: last year’s international global climate change agreement; the controversial U.N.-backed deal to obstruct Iran’s acquisition of a […]
newslide Shah Rukh Khan coming to Abu Dhabi to finish Raees filming Shah Rukh Khan is reportedly coming to Abu Dhabi to complete the shooting of his upcoming film Raees. According to The Indian Express, the Bollywood superstar has arranged an “undisclosed” location to finish the film, which is due for release in January. Production of the movie, which also stars Pakistani actress Mahira Khan, was affected […]
ABU DHABI // More than 400 prominent international and regional decision-makers, politicians, and academics are set to converge on the Third Abu Dhabi Strategic Debate, ADSD, on November 13-14 at Emirates Palace, Abu Dhabi. The event is being organised by the Emirates Policy Centre (EPC), in co-operation with the UAE’s Ministry of Foreign Affairs and International Cooperation, and the Atlantic Council. The timing of the 2016 ADSD […]
China Inc plans its first dollar sukuk issuance to tap a fourfold increase in Chinese funds that can invest in bonds overseas. Sichuan Development Financial Leasing Co plans to sell $300 million (Dh1.1 billion) of Islamic bonds via Singapore-based special purpose vehicle, Silk Routes Capital Pte, in December, according to sale adviser Silk Routes Financials. The deal is being done in the city-state because China doesn’t have […]
GREENSBORO, United States Honda Motor Co (7267.T) expects to ramp up production of business jets as part of its plan to expand in the growing industry, the head of the Japanese automaker’s aircraft operations said in the United States. The firm hoped to produce 80 business jets annually by March 2019, from up to 36 currently, Honda Aircraft Company CEO Michimasa Fujino told reporters at its plant […]
Britain’s Brexiters have seized on the election of Donald Trump, arguing that it offers the chance to strengthen ties with the US, in an echo of the partnership forged decades ago between Ronald Reagan and Margaret Thatcher. Boris Johnson, the foreign secretary, has depicted Mr Trump’s victory as “a great opportunity”, emphasised the possibility of a post-Brexit trade deal, and called for Europe to snap out of […]
ABU DHABI // The President Sheikh Khalifa bin Zayed Al Nahyan has sent a cable of condolences to King Salman bin Abdulaziz Al Saud of Saudi Arabia on the death of Prince Turki bin Abdulaziz Al Saud, who passed away on Saturday morning. Sheikh Khalifa extended his heartfelt condolences and solace to the bereaved family, praying to Almighty Allah to rest departed soul in Paradise. The Vice […]
Syrian forces supported by Russian air power beat back rebel gains around the embattled city of Aleppo on Saturday, tightening the siege on opposition-held areas where civilians are grappling with critically low supplies of food and medicine. Embattled Aleppo, divided between rebel control on the east and government control on the west, has become one of the most violent battlegrounds of the five-year civil war between President […]
Photo A member of the Syrian Democratic Forces, a United States-backed Kurdish-Arab alliance, inside Syria. Credit Delil Souleiman/Agence France-Presse — Getty Images WASHINGTON — President-elect Donald J. Trump said Friday that he was likely to abandon the American effort to support “moderate” opposition groups in Syria who are battling the government of President Bashar al-Assad, saying “we have no idea who these people are.” In an interview […]
Before he was elected to be the next US president, Donald Trump had garnered the support of just one prominent billionaire in Silicon Valley: billionaire Peter Thiel, founder of PayPal and Facebook board member. The US technology industry had been shocked that one veteran from the Valley, which prides itself on liberal values, had supported, funded and even spoken for Mr Trump at his convention — and […]
After an election filled with rhetoric about big and brash bankers running amok on Wall Street, Donald Trump has turned to the biggest and the brashest of them all: Jamie Dimon, chairman and chief executive of JPMorgan Chase. The transition team of the president-elect called Mr Dimon on Wednesday night to sound him out about serving as Treasury secretary, according to a Reuters report that the FT […]
By Sumanta Dey | BENGALURU BENGALURU After Donald Trump’s unexpected victory in the U.S. presidential election, investors may refocus in the coming week on the health of the world economy and any signs that years of rock-bottom interest rates and fiscal austerity are coming to an end. Trump’s victory poses a major challenge to the conventional wisdom on the global economy, which for years has relied on […]
By Sinead Carew | NEW YORK NEW YORK The U.S. banking sector’s dramatic rally post Election Day is likely just a taste of bigger gains to come, as investors expect banks to reap huge benefits from rising interest rates and lighter regulation under a Donald Trump presidency. In recent years, bank stocks have been held back by heavy regulation and historically low interest rates which have sapped […]
Donald Trump has appointed Mike Pence, his running mate, to head his transition team as he prepares to start naming people to fill top posts in his administration. Mr Trump also appointed four members of his family, including his daughter Ivanka and her husband Jared Kushner, along with the financiers Anthony Scaramucci and Steven Mnuchin. The team will also include Stephen Bannon, his campaign chief executive, Reince […]
